Cash Management


Online Banking 2.0! Do you have administrative staff that needs access to account information, pay bills, transfer funds between accounts, or download account information into accounting software? Do you have employees on Direct Deposit? Does your business have re-occurring Direct Debit authorizations to automatically deduct from your customers’ accounts? Cash Management through our Online Banking software, World Wide Banker (WWB) makes it all possible.


Benefits:

  • Have the ultimate control. Add, eliminate and edit users. Control user authority and access to accounts and information.
  • Avoid the inconvenience of closing an online banking account and opening a new one every time there is a staff change. Avoid time lost in re-establishing user authorities, re-occurring transfers, payments etc.
  • Avoid the hassle of multiple IDs, passwords, authentications and the burden of dealing with multiple creditor/vendor authority and access protocols.
  • Decrease the risk of identity theft and fraud.
  • Receive a daily account activity report adding additional protection and oversight of administrative activities.
  • Improve cash flow and increase customer retention with Direct Debit from customers’ designated accounts.
    • Great for service providers that charge monthly service fees such as schools, daycare providers and gyms.
    • Non-profits can improve pledge collection percentages. Ideal for churches and non-profits that do annual campaigns to raise money for their respective cause.
  • Input stop payments
  • Initiate wire transfers
  • Manage Positive Pay to help prevent check fraud.
  • Reduce time spent on administrative functions and duties. Reduce risks and complexities associated with multiple parties accessing financial sensitive information.

Requirements:


Cash Management ACH Origination

This service allows business customers to create Automated Clearing House (ACH) transactions by accessing our Online Banking software, World Wide Banker (WWB).

Benefits:

  • A business can collect funds as a Direct Debit from their customers via online banking or upload a National Automated Clearing House Association (NACHA) formatted file from their software program.
  • A business can pay employees by Direct Deposit via online banking or upload a NACHA formatted file from their software program.

IMPORTANT: Some payroll and billing software programs have a module that allows them to enter employee deposit information or customer billing information. A NACHA formatted file can be created that allows them to import into World Wide Banker (WWB) Cash Management. If the software programs do not have this module, the business customer would need to enter the information directly into WWB Cash Management batches (files), update net amounts and effective dates. An authorization needs to be signed by their employees or customers with their bank information to allow the PPD (Prearranged Payment and Deposit) transactions to be processed.


Cost of Service:

Service Amount
ACH Origination One-time Setup Fee $100.00
ACH Monthly Maintenance Fee $10.00
ACH Origination Per Batch (File) Fee $1.50
ACH Origination Per Item Fee $0.10
ACH Item Returned $3.00
ACH Notification of Change
$1.00